US Bank Prime Loan Rate:

US Bank Prime Loan Rate is at 5.50%, compared to 5.50% yesterday and 4.75% last year. This is lower than the long term average of 6.96%.

The US Bank Prime Loan Rate measures the rate at which banks lend to their clients. The prime rate is correlated with the federal funds rate and tends to move along with it. The bank prime loan rate reached as high as 20% in 1981, when the federal reserve was led by Paul Volcker, and the interest rate environment was extremely inflated. Another notable time was 2008 when prime rate went as low as 3.25% during the Great Recession.